Rapicut Carbides Ltd

Rapicut Carbides Ltd - Trading Window Closure

AGM Details

• Date, time, and mode: 26 Sep 2026, 12:30 PM IST, VC/OAVM.
• Record date: 19 Sep 2026.

Key Resolutions

• Resolution 1: Adoption of Audited Financial Statements; passed with 42 in favour, 4 against.
• Resolution 2: Re-appointment of Shruti A Gami as Director; passed with 42 in favour, 4 against.
• Resolution 3: Appointment of Statutory Auditors and fix remuneration; passed with 42 in favour, 4 against.
• Resolution 4: Increase in Borrowing Limits; passed with 42 in favour, 4 against.

Dividend

• Dividend: no dividend proposed or declared.

Director Changes

• Shruti A Gami reappointed as Director (by rotation).

Auditor Appointments

• Statutory Auditors appointed; remuneration fixed.

AGM details

• AGM held on 26 September 2026 at 12:30 pm IST via VC/OAVM.
• Proxy facility not available due to VC/OAVM arrangement.
• Statutory auditor and secretarial audit reports had no qualifications or adverse remarks.
• Electronic voting available; members could vote during the meeting and for 15 minutes after closure.

AGM notice and shareholder communications

• Notice dispatched to shareholders with unregistered emails directing access to Annual Report via website and QR code.
• 49th AGM scheduled for 26 September 2026 at 12:30 IST via VC/OAVM.
• Annual Report 2025-26 accessible at www.rapicutcarbides.com; exact path provided.
• Cut-off date for email updates: August 28, 2026.
• KYC updation and dematerialisation of physical securities urged under SEBI circular 2024.
• Electronic payments restricted to electronic mode for physical folios missing updated PAN or contact details.

Financial highlights

• Revenue from operations ₹9,627.95 Lakhs, up from ₹4,198.64 in 2024-25.
• Profit after tax ₹206.12 Lakhs; EPS ₹3.84.
• Total comprehensive income ₹213.93 Lakhs.
• Dividend not recommended for the year.
• Paid-up capital unchanged at ₹537.12 Lakhs.
• Net debt position: net cash negative ₹300.12 Lakhs.
• Cash and cash equivalents ₹300.12 Lakhs; no long-term borrowings.

Operations & product mix

• Single primary segment: Tungsten and Tungsten Carbide Products.
• Domestic revenue ₹4,928.21 Lakhs; export ₹4,621.88 Lakhs; total external ₹9,550.09 Lakhs.
• Volumes grew in intermediates and value-added products.
• Volatile raw materials; company passed cost increases to customers.
• Invested in machinery to enhance efficiency and product quality.
• Outlook positive long-term; near-term volatility expected.

Capital structure & liquidity

• Equity share capital ₹537.12 Lakhs; total equity ₹2,172.19 Lakhs.
• Cash & cash equivalents ₹300.12 Lakhs; no long-term borrowings.
• Net debt of ₹-300.12 Lakhs (net cash).
• Proposed borrowing limit up to ₹100 Crore via Special Resolution.

Governance & leadership changes

• Abhishek V. Gami appointed Chairman w.e.f 16 May 2025.
• CFO changes: Nayak resigned Jun-2025; Puliyady appointed Jun-2025; Pandya appointed Aug-2026.
• Auditors changed to M/s SMRP & Associates for a five-year term.
• Six Board meetings held in FY2025-26 with high attendance.
• Independent Directors confirmed independence; Secretarial & Internal auditors appointed.

Related party transactions

• Material related party: United Wolfram Pvt Ltd; MD and spouse hold directorships.
• Purchases from United Wolfram ₹8,859.60 Lakhs; sales ₹275.29 Lakhs.
• Purchase terms: 45 days or 50% advance; finished goods credit 15 days.
• Omnibus approval for RPT granted 11-Feb-2025; periodic reviews thereafter.
• All related party transactions were at arm's length and in the ordinary course.

Audit, controls & compliance

• Internal controls deemed adequate; internal audit by Rays & Associates.
• Secretarial audit by Samdani Shah & Kabra; no qualifications.
• Board responsibility statement confirms going concern and compliance.

Risks & outlook

• Key risks: raw material price volatility, supply constraints, geopolitical developments, export restrictions.
• Mitigations: diversified sourcing, better product mix, efficiency gains, and customer relationships.
• Industry outlook remains positive long-term; management focused on growth and value-added products.

Dividend, reserves & statutory disclosures

• Dividend policy not applicable; no dividend for 2025-26.
• No transfer to general reserve; reserves comprise security premium, capital reserve, and OCI.
• CSR requirements not applicable due to company size.

AGM Details

• Date/time: 26 September 2026, 12:30 PM IST.
• Mode: VC/OAVM.
• Deemed venue: 119, GIDC Industrial Area, Ankleshwar.
• Record date: 19 September 2026.

Key Resolutions

• Adopt Audited Financial Statement for the year ended 31 March 2026.
• Re-appoint Shruti A Gami as Director (retire by rotation).
• Appoint Statutory Auditors M/S SMR P & Associates for 5 years at Rs 5 Lakhs for three years.
• Increase borrowing limit to Rs 100 crore and authorize asset security and disposal of undertakings.

AGM notice publication

• 49th AGM scheduled for 26 September 2026 at 12:30 PM via Video Conferencing.
• Newspaper notices published in Business Standard (English) and Loksatta/Jansatta (Gujarati).

Correction notice

• Corrects prior 'Appointment of Statutory Auditors' disclosure; reads '5 financial years' as '5 consecutive years'.
• AGM date corrected from 29 September 2026 to 26 September 2026.
• No change to auditors appointment details or board outcomes; clerical correction only.